Success Story4-H brings financial management to local schools



4-H brings financial management to local schools

Author: Elizabeth Easley

Planning Unit: Laurel County CES

Major Program: Family and Consumer Science

Plan of Work: Financial Education

Outcome: Initial Outcome

The problem:

According to the 2024 Most and Least Financially Literate States report, Kentucky ranks 48th in the nation for financial literacy. Kentucky’s youth lack the fundamental knowledge and skills to manage their finances and make wise financial decisions. Research has shown that financial habits and attitudes begin early in youth. A University of Michigan study found that children as young as five already had distinct emotional reactions to spending and saving money. These emotional reactions translated into actual, real-life spending behaviors. Teaching youth about financial management is crucial in today’s world. It not only helps them make informed decisions when it comes to spending but also lays a foundation for their future financial success.

The educational program response:

Laurel County 4-H collaborated with the local Family Resource and Youth Services Centers Coordinators to bring two programs (Dollars and Sense and Reality Store) to elementary and middle schools. The Dollars and Sense program focuses on learning the difference between wants and needs, making healthy financial decisions, and enhancing basic budgeting skills. Financial lessons are taught in the classroom by the 4-H Agent before the culminating simulation. During the simulation, youth visit 14 booths where they must purchase at least one item from each booth. Booths include a bank, taxes, candy store, pet care, entertainment, etc. The simulation provides an opportunity to gain hands-on experience with money management.

The Reality Store program is similar to the Dollars and Sense program except that it is geared towards middle school youth. Extension staff visits the classroom before the culminating simulation to teach money management concepts, practice financial decision-making skills, and evaluate how academic and career choices affect salaries and budgeting.

Through these two curriculums, participants gain a solid understanding of money will help them make better financial decisions later in life. Helping youth explore financial management also helps develop essential life skills like problem-solving, decision-making, and critical thinking.

The participants/target audience:

The Dollar and Senses curriculum was delivered to 348 fourth and fifth-grade students in three elementary schools. The Reality Store program was delivered to 320 sixth through eighth-grade students in two middle schools. In total 668 youths received six educational hours and hands-on practice in financial management.

Other partners (if applicable):

The Family Resource and Youth Services Centers Coordinators are essential in collaborating with Extension Staff to ensure that community partners are secured to manage each booth during the culminating simulations. In total 61 community partners participated in the simulations. Community partner representatives involved in the simulations were from several industries including banking, reality, medical, governmental, and civic organizations.

Program impact or participant response:

Per the end of the program evaluations, 97% of youth report that they have an increased understanding of how to make wise financial choices and the importance of saving for future goals. Ninety-two percent of elementary participants increased their knowledge of the costs of “wants” while 85% increased their knowledge on how much it costs their parents to buy them things. 







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